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In this paper we provide critical review of recent developments in the mutual fund performance evaluation literature. The new literature centres around two main themes: enhancing explanatory power of the standard Fama-French-Carhart factor models by augmenting them with different factors and...
Persistent link: https://www.econbiz.de/10012908928
Just over 20 years have passed since the publication of Carhart's landmark 1997 study on mutual funds. Its conclusion—that the data did “not support the existence of skilled or informed mutual fund portfolio managers”—was the capstone of an academic literature beginning with Jensen...
Persistent link: https://www.econbiz.de/10012898177
Active investors with limited attention and capital constraints use fundamental metrics to screen and sort potential investments. Price-earnings (P/E) ratios are extremely popular, and are typically calculated using four trailing quarters of net income. Changes in the rankings of published P/E...
Persistent link: https://www.econbiz.de/10013004642
The rise of Fintech in the past decade has received growing scholarly attention. This paper surveys Fintech-related articles published in leading finance, accounting, and management journals from 2010 to 2019. It aims to generate a taxonomy of Fintech and accumulate knowledge in the fields of...
Persistent link: https://www.econbiz.de/10012834155
The financial sustainability has been a major issue in greenfield toll-road projects. Most of Indonesia's 24 toll road concessions already signed by Toll Road Authority, for instance, cannot be put in operation because of financing problems. Uncertainties of long-term project revenues,...
Persistent link: https://www.econbiz.de/10012870837
This paper is a response to the Russian ETF anomaly that demonstrates how costly for individual investors might be the … might be one of the several reasons why Russian investors have been buying ETF shares via Russian mutual funds rather than … previous ETF surveys, one of which is 10-year old and the other two are not comprehensive. The paper also suggests an …
Persistent link: https://www.econbiz.de/10012935762
This article asks how sustainable investing (SI) contributes to societal goals, conducting a literature review on investor impact—that is, the change investors trigger in companies' environmental and social impact. We distinguish three impact mechanisms: shareholder engagement, capital...
Persistent link: https://www.econbiz.de/10012850816
Using the dictionary-based approach to measure the sentiment of finance-related texts is primarily focused on English-speaking content. This is due to the need for domain-specific dictionaries and the primary availability of those in English. Through the contribution of Bannier et al. (2019b),...
Persistent link: https://www.econbiz.de/10012887911
Investment decision making is a complex process that requires evaluating various financial assets and determining which ones to purchase or sell. Retail investors, who are individuals rather than institutional investors, often make investment decisions based on their personal beliefs and...
Persistent link: https://www.econbiz.de/10014254269
Retail investors are becoming increasingly worried about financial investment, which, after many financial crises, makes it challenging for financial service companies in India to devise marketing strategies. This paper provides a review of scientific, peer-reviewed articles that examine the...
Persistent link: https://www.econbiz.de/10013213387